The Atlanta constitution. [volume] (Atlanta, Ga.) 1885-19??, 1887-10-04
THE LEGISLATURE.
The Sale Of the State Road Dis
cuSsed in the House.
DR.. FELTON, ON SENATOR BROWN.

The special order in the house yesterday was
the resolution introduced by Mr.. Harrison. of
Quitman, to sell or lease the Western and
Atlantic railroad.
The substitute provided for bids for the sale
or lease, while the minority report recon-
mended receiving bids for the lease Only.
Mr.. Harrison, of Quitman, took the floor and
began: II heartily endorse the substitute
offered by the finance committee. How can
we act? Do you know the value of the State
road? Jean you fix the price now, either for its
lease or sale? How can the next general
assembly obtain the information? The matter
cannot be postponed, for the next general
assembly must act.
protest against the passage of this resolution.
!. The question involves valuable interests and
should be calmly, soberly, conscientiously and
fearlessly considered object to this resolution
because it means nothing. We should not as
representatives, pass an act that means moth
ing, and trifie with the responsibility resting
upon us.
"It is an experiment to sell the road and /
am opposed to experimenting with the states
property. We have tried the lease and know
how it will work. An experimental tinancier
is generally failure. am of the opinion that
the sale would be failure and a loss of the
property to the state. If the road is sold now
even for cash. the entire state debt could not
be paid until 1915.
"Let US consider the lease moment; S25.-
600 per month, or 100000 per year. En- TWEEN
Ey-nlA YEARS VIC luCOliic Is ~ ,OUU,UUU, WHICH,
with the interest, would more than pay the
state debt; $50 900 per month, or S420,0O0 per
year, In twenty-six years the income is $l0,-
$4,000 more than the state debt, with the
road left. But 1t is not too much to say it will
bring $4,000 per month, or in twenty-six years
100000
"Give half of the above amount to the school
fund OF the state, and apply the remainder to
extinguishlng the state debt, and with the in
terest added, it viii more than pay off the en-
tire state debt in that time and you have the
road besides Isn't this the best policy?
Mr.. McLendon, of Thomas, spoke in favor
OF the resolutions He said:
81 desire that the house should distinctly
understand that we are not now proposing to
either sell or lease the Western and Atlantic
railroad. , 81,
"My friend from Meriwether falls into
broad error When he asserts that the people
have passed upon the question of a sale, and
that in the. election of our present governor a
verdict against the sale was entered up. l as
sert, Mr.. Speaker, that this is not and cannot
be true, for the very plain reason that in the
last gubenatorial campaign both the candi-
dates for the office of governor took exactly
the same position upon this question.
"My distinguished friend from Barlow says
he would not take twenty million dollars for
this property. Now, if there are those who
think as he does, and who are willing to buy,
this resolution provides that ali the road may
bring, over and above the bonded debt of the
state, shall be kept as a perpetual school fund
and invested under appropriate legislation.
Our public debt.in round numbers, amounts
to $9,406, 900; if it should sell for $2O,OO0000
we would have school fund of something
like twelve millions of dollars. Here again
the school fund is protected If the house
will read this resolution carefully it will be
seen that the state is fully protected.
The president of the company
of lessees says unless some arrangement 10
made by which his company will be paid for
betterments, his company will have to begin is
oonomiZe. I like that word. 1t is mild. but
it means q great deal. If this provision were
In the present lease act we could say,
economic if you dare. AS it is the matter
must be settled, by the contract. My friend
here on the left says we are not children and
that we must settle the question. How? VIII
the gentleman tell me? assert, Mr. Speaker,
that we cannot at this time settle anything.
The claim for betterments is growing
every year, and if in seventeen years it has
grown tosomething like, as l am informed,
two million dollars, will 1t not, q in the
next three years, take on somewhat larger pro-
portions?
Mr.. Hill of Meriwether-''I Is not the business
OF the road larger now than it ever was be-
fore?"
Mr. McLendon-'fYes, sir, and its receipts
smaller by reason of competition Its tom
mage has increased because of the boundleSS
prosperity of our great country. Rich in soil
and in minerals, rich in the character, intelli-
gence, industry and thrift of her people, We
have the
GREATEST COUNTRY UNDER THE SUN,
and have no doubt but that the tonnage or
EOluuo OF business OF every Ia1lfOaQ IN the
land has increased. -
Mr.. Harrell, of Webster, said "When d.
vested of all extraneOus matter, a solution of
the question is easily reached. The lease ex-
pires December 31St, 1880. The next general
assembly will have two years and two months
in which to settle this question. The senate
has resolved against sale. The finance COM
nittee OF the house have agreed to sell or
lease now.s7eT The only question before the
house is shall this general assembly
take rs stems D. to nut the next
general assembly in possession of the neces-
sarv facts. :, -e..s-
am ia favor of letting the next general as
sembly pass upon the matter with the facts
before them. The interest the debt is
$4,000, and it costs per cent to collect it.
The rental of the state road is $500 600, deficit
of over $4,000 per annum"
"The only question before u.s." said DR.. Eel
ton, 'is the sale or lease of the road. Are you
prepared to sell the road for what you can get
for it?
'The best interests of Georgia require the
CONTINUANCE OF THE LEASE SYSTEM.
f'The majority report is indefinite, meaning
less, vague and uncertain, like one beating the
air-without purpose. If it means anything,
affect the people of Georgia. finan-
cially and industriously for years
to come and for generations unnumbered the
industrial interests will be affected either adj
yersely or favorably. The majority report
means bids for the sale only. Every member
in accord with that fayors sale. A large
proportion of the committee favor the sale.
Two or three years ago Mr.. McLendon intro
duced bill to sell the road, and valued it at
$6,000,000.'
Mr.. McLendon--'T placed no value on it.
The estimate was based on the opinion of
Major Campbell Wallace"
MIR. Felton--"In matters of public interest
the opinion of Major Campbell Wallace is of
no greater wight with me than that Of Mr..
McLendon."
"a distinguished member of the house said:
THE time has come when the people of GeOr-
gia must consult the railroads on this question:
We must consult the railroad sharks and sharp
ers, and accept the price they put on this prop
ertYl
1.-THE majority report does not fix the mini
mum or maximum values of the road. They
say, we have no opinion Did you ever hear
of man owning valuable property that had no
idea as to its approximate value? This COM
mission is to advertise for bids. Imagine the
governor Of Georgia with large sign, placard-
ed in front and rear:
Railroad for Sale or Lease; We Don't
Know Which